Topic: Binance Coin completes its 10th token burn worth $3.9 M USD (Read 295 times)
this is a good strategy to burn a number of BNB supplies and the amount burned is not small, this strategy will also help boost the price of the BNB in the future, I also happen to hold the BNB I hope it will be potential and valuable in the future, they bet 20 % of profits to burn inventory, that's a great decision
Didn't CZ announced about the burn being worth $38 Millions? BNB burn will keep on going until 100 million BNB is in circulation, This will have huge impact on the price.
I think it is a good position of Binance to spend a part of their profit to buy and burn their token as it constantly decreases the supply of BNB and causing the growth of the token price.
Binance coin (bnb) is one of the popular alt project in the cryptoworld because of its exchange site with a lot of volune this 10th token burn also help the price to break its falling wedge so I'm expecting more bullish to Binance coin.
So, with what you are saying about what was the definition of binance coin and does it have a correlation with the context that already discussed in this thread? I just try to remind you that if this is not the right place to increase your post count without evenj read the context. WTH happen with windice to choose you as a participant. It looks like that so many parties have started to do more deeply research with the latest report from the binance burning problem.
https://cryptonews.com/news/resurfaced-binance-whitepaper-change-prompts-transparency-qu-5587.htm
A great way to raise demand on such a market because the more limited supply will make the BNB price will be rising. But not even if the traders or investors do not glance at them. So good news for BNB in order to price back up like the IEO era, when BNB became gold.
Binance coin (bnb) is one of the popular alt project in the cryptoworld because of its exchange site with a lot of volune this 10th token burn also help the price to break its falling wedge so I'm expecting more bullish to Binance coin.
Looks like makret manipulation
That's true and this more than enough to be evidence if binance has started to manipulate the market https://beincrypto.com/latest-binance-coin-burn-has-nothing-to-do-with-profits/Does anyone know how long this burning thing will go on? I mean surely one day it has to end since there is two options, either they let some of the bnb in the market and don't burn it, or they will burn all of it eventually, which I think second one would be a bit idiotic. That is why I was wondering if anyone knows when the burning will end?
The burning will end until 100 million binance coins will be destroyed or it's about 50% of the total supply. 
Today the coin price grow up 5% based on CMC, idk this happen because that news or just the common things in altcoin market.
A couple years ago the burn coin news will affect the price but different when all the market is still in bearish trend.
Nowadays coin burning hardly affect the price. People are smart today and we realize that by burning a certain percentage of coin supply doesn't necessarily make the coin worth more. If the utilization of the coin is bad or the demand is too low, even if the coin burns 50% of its supply it still doesn't deserve price increase. A couple years ago the burn coin news will affect the price but different when all the market is still in bearish trend.
I remember in 2017, any positive news about the project increased the cost of the coin, since then it has been more than two years, but the cost of some coins is still easy to manipulate by throwing the necessary information into the media.
Does anyone know how long this burning thing will go on? I mean surely one day it has to end since there is two options, either they let some of the bnb in the market and don't burn it, or they will burn all of it eventually, which I think second one would be a bit idiotic. That is why I was wondering if anyone knows when the burning will end? Depending on the answer of that, buying bnb right now is a great way for a future investment, you would basically get a coin that will end up with less and less of it going around and you will have a bigger and bigger portion of the said coin (in this case BNB).
I personally will invest a bit of it after this burning, I know its the wrong time to do so but I will keep it until the next burning and see how it goes.
I personally will invest a bit of it after this burning, I know its the wrong time to do so but I will keep it until the next burning and see how it goes.
Damn, now i feel sad not buying bnb token when i can, this continuous burning off tokens will definitely have huge impact on the price, but the fact that bnb token is only useful on binance platform makes me lose interest
It's not a too late dude to buy BNB again as it has a lot of coins that need to be burned again in the future. When you can understand what means if the utility coin and you will never say like that. Based on your last statement you just tell me that if you didn't understand what means of utility purpose. Binance was doing that to make its own platform will be more useful. The dumb developer will never try to make its own platform become useful and start to generate revenue.
Its not too late to buy. Its price is affordable still.
This is marketing of the exchange and attract investors in the exchange, the company had been building their name for a long time and with this Binance just make other exchanges so tiny already. They are willing to burn $3.9M worth of BNB to make its platform very well known for everyone, non of the exchanges we learned before had done this.
Today the coin price grow up 5% based on CMC, idk this happen because that news or just the common things in altcoin market.
A couple years ago the burn coin news will affect the price but different when all the market is still in bearish trend.
The current price of binance coins is increasing because they have just announced a new IEO in the near future, immediately the price has increased by 5-7%. If this IEO is profitable for investors, I believe that the price of BNB will continue to go up, in February I expect BNB's price to go up to $ 21-23. A couple years ago the burn coin news will affect the price but different when all the market is still in bearish trend.
indeed, they are. they changed their whitepaper last summer without us noticing it. instead of burning it based on profit, they decided to burn the coin based on its trading volume.
it is clear they are trying to manipulate the price.
It has changed, but it is an effort to keep their exchange stronger. see now binance remains the best and I think there will be a good development in the future for BNB. after IEO which succeeded in increasing the value of BNB became more expensive, I think BNB still has a greater potential to grow more expensive than the current price.it is clear they are trying to manipulate the price.
I do not see any relation between both of it, they are changing their burning rate from net profit to total volume because they want to increase the value of their native coin or we called it manipulating.
the more it gets burned, the scarce it becomes which also means the price will go up.
Looks like makret manipulation
indeed, they are. they changed their whitepaper last summer without us noticing it. instead of burning it based on profit, they decided to burn the coin based on its trading volume.it is clear they are trying to manipulate the price.
The money using for burning should have been channeled into Charity in Africa or some poor Asia countries. I understand Binance has been very supportive in terms of humanitarian works, the coin will still do very well without further burning, as the exchange is already a success. Although road map can be followed for integrity and trust purpose.
Looks like makret manipulation
indeed, they are. they changed their whitepaper last summer without us noticing it. instead of burning it based on profit, they decided to burn the coin based on its trading volume.it is clear they are trying to manipulate the price.
Damn, now i feel sad not buying bnb token when i can, this continuous burning off tokens will definitely have huge impact on the price, but the fact that bnb token is only useful on binance platform makes me lose interest
It's not a too late dude to buy BNB again as it has a lot of coins that need to be burned again in the future. When you can understand what means if the utility coin and you will never say like that. Based on your last statement you just tell me that if you didn't understand what means of utility purpose. Binance was doing that to make its own platform will be more useful. The dumb developer will never try to make its own platform become useful and start to generate revenue.
the fact that the exchange continues to burn coins is very good, but now the market situation is not so positive that the price of the coin did not even increase after this burning. I remember when the coins were burned for the first time, the price grew by 50-60 percent) these were very good times and people were earning good money, but they have passed and now it's just a good fulfillment of their promises from the project team.
The thing about burning is that there will be fewer coins in circulation, nothing more. Burning don't affect demand, at least not directly, and for the price rise except messing with supply you need to have a higher demand, or at least the same.
Like every burning this one is all over the news! In long run this is a positive thing for us who have some bnb. We can't expect price to rise after every burn the same, market situations is a bit different from the market situation when first burn took place.
Looks like makret manipulation
the fact that the exchange continues to burn coins is very good, but now the market situation is not so positive that the price of the coin did not even increase after this burning. I remember when the coins were burned for the first time, the price grew by 50-60 percent) these were very good times and people were earning good money, but they have passed and now it's just a good fulfillment of their promises from the project team.
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